Public finance

More than $60 million in new debt Owensboro Municipal Utilities could issue this month to pay for the expansion of its William Cavin Water Treatment Plant would have no effect on the city's credit.

Wells Fargo Securities announced the additions of Randy Campbell and Jim Perry to its public finance team, both jumping over from Morgan Stanley.

The county wanted to borrow to cover a $46 million judgment that was paid from its 2018 operating budget to two men exonerated from a 1980s murder conviction.

The market was quiet on Friday ahead of a $7.5 billion new issue calendar as more than $50 billion in August redemptions frees up cash to buy bonds.

California's highest court said city officials failed to negotiate with labor unions before bringing its pension overhaul to a vote.

Municipal bond buyers will get to see a larger than average new issue slate.

The State Bond Commission approved a $10 million study on reviving tolls against a backdrop of revenue strain and regional dynamics.

Securitization or pension obligation bonds are options for the city.

In the week ended August 2, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose to 4.01% from 3.99% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The board declined to say what the net impact on the central commonwealth government’s finances would be.

Municipals were mixed on Thursday as the bond markets await Friday’s release of July’s employment report.

The project is part of efforts to bring employment, housing and public spaces to blighted corridor of Los Angeles.

Municipal bond buyers saw the last of the week’s new issue supply get put away as the market’s gaze turns to next week’s volume.

Bond Buyer Reporter Christine Albano and Contributing Editor John Hallacy discuss the current landscape for retail investors who want to buy municipal bonds. They talk about what’s hot — and what’s not — and what’s up with the short-end. They also look ahead to the second half of the year. Chip Barnett hosts.

Municipal bond buyers saw some supply hit the screens on Wednesday as demand stayed strong.

Christian Sobrino Vega takes over directorship of the agency in charge of debt restructuring from Gerardo Portelo Franco,

The board has identified more than 110 out of 490 local units of government as having an underfunded pension plan or retirement health care plan — or both.

Strong economic conditions drove municipal sales tax collection across New York to its highest first-half increase in eight years.

City officials are concerned the plan will overshadow other bond measures on the November ballot.

CFO Carole Brown says the Windy City is being shortchanged in terms of ratings and yields.